February 14, 2018 / 12:33 PM / 5 months ago

Jet Airways third-quarter profit nearly halves as fuel costs soar

(Reuters) - Jet Airways (India) Ltd, the country’s second-largest airline, on Wednesday reported a 46 percent drop in third-quarter profit, hurt by higher fuel expenses.

FILE PHOTO: A Jet Airways passenger aircraft takes off from the airport in the western Indian city of Ahmedabad, India, August 12, 2013. REUTERS/Amit Dave/File Photo

Net profit for the three months ended Dec. 31 stood at 1.65 billion rupees ($25.74 million) versus 3.05 billion rupees in the year ago quarter.

Revenue from operations grew 10.4 percent to 60.86 billion rupees.

Total expenses for the quarter jumped 10 percent with aircraft fuel expenses rising around 29 percent to 18.40 billion rupees.

($1 = 64.1150 Indian rupees)

FILE PHOTO: Jet Airways aircraft stand on tarmac at the domestic airport terminal in Mumbai, India September 9, 2009. REUTERS/Punit Paranjpe/File Photo

Reporting By Arnab Paul in Bengaluru; Editing by Vyas Mohan

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